OSI Systems Awarded U.S. Customs & Border Protection IDIQ Contract Valued up to $67 Million for Z Portal® Cargo & Vehicle Sc...
October 15 2018 - 7:30AM
Business Wire
- Receives First Delivery Order for
$61 Million
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ:
OSIS) today announced that its Security division has been awarded
an indefinite delivery, indefinite quantity (IDIQ) contract from
U.S. Customs and Border Protection (CBP) for Z Portal® cargo and
vehicle screening systems. The two-year Z Portal IDIQ contract is
valued up to $67 million. The Company also received the first
delivery order under the IDIQ contract valued at approximately $61
million. The Z Portal systems are expected to be deployed for
homeland security applications at multiple border locations.
OSI Systems’ Chairman and CEO, Deepak Chopra, commented, “We are
pleased to continue to support CBP’s critical mission with our Z
Portal systems that aid in the safe and effective screening of
vehicles and cargo at high-traffic locations.”
About Z Portal Cargo and Vehicle Screening Systems
The Z Portal system is a drive-through inspection system for
large trucks, buses and cargo containers and incorporates the
Company’s proprietary source and detector innovations in a more
compact design, enabling improved image quality at higher
throughput rates.
About OSI Systems
OSI Systems is a vertically integrated designer and manufacturer
of specialized electronic systems and components for critical
applications in the homeland security, healthcare, defense and
aerospace industries. The Company combines more than 40 years of
electronics engineering and manufacturing experience with offices
and production facilities in more than a dozen countries to
implement a strategy of expansion into selective end product
markets. For more information on OSI Systems or its subsidiary
companies, visit www.osi-systems.com. News Filter: OSIS-G
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements relate to OSI Systems’ current
expectations, beliefs, and projections concerning matters that are
not historical facts. Forward-looking statements are not guarantees
of future performance and involve uncertainties, risks,
assumptions, and contingencies, many of which are outside OSI
Systems’ control and which may cause actual results to differ
materially from those described in or implied by any
forward-looking statements. Undue reliance should not be placed on
forward-looking statements, which are based on currently available
information and speak only as of the date on which they are made.
OSI Systems assumes no obligation to update any forward-looking
statement made in this press release that becomes untrue because of
subsequent events, new information, or otherwise, except to the
extent it is required to do so in connection with its ongoing
requirements under Federal securities laws. For a further
discussion of factors that could cause OSI Systems’ future results
to differ materially from any forward-looking statements, see the
section entitled "Risk Factors" in OSI Systems’ most recently filed
Annual Report on Form 10-K and other risks described therein and in
documents subsequently filed by OSI Systems from time to time with
the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20181015005339/en/
OSI Systems, Inc.Ajay VashishatVice President, Business
Development310-349-2237avashishat@osi-systems.com
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